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MYCOM Group Focused On Profitability, Renewed Growth in 2001 CINCINNATI--(BUSINESS WIRE)--Feb. 6, 2001--MYCOM Group, Inc. (OTCBB:MYCO) said today that its primary goals for 2001 are to improve overall profitability and accelerate growth through a combination of rigorous cost management and an exciting new market strategy. MYCOM Group Executive Vice President Patti Massey said that the goals more closely align the direction of the company with the financial markets' increasingly strong focus on technology companies with improving profitability trends. "Investors are no longer interested in growth for its own sake," Massey said. "Profitability is important. We are responding to that with steps that can make MYCOM's bottom line much stronger as we build a new growth platform on top of our current e-business and communications consulting services." She outlined several initiatives launched in 2000 and expected to drive MYCOM Group's profitability in 2001: -- Match workforce levels even more closely to business volume to maximize efficiency; -- Reposition resources outside Cincinnati to reduce fixed costs and rely on alliances and partnerships to reach new markets; -- Eliminate spending for development projects that do not appear to have near-term, rapid payback potential; -- Limit overhead expense. MYCOM Group is continuing its emphasis on those key measures in 2001, Massey said. Cost management and continued growth are expected to deliver significant long-term profitability gains for MYCOM Group, assuming continued growth in technology investment by key clients and success in attracting new strategic investment. MYCOM Group's new business strategy to drive revenue growth will be detailed in a series of communications to customers, investors and employees in coming weeks, she said. Massey said the company is continuing to prepare its audited year-end 2000 financial results. It will report them not later than the end of March 2001. About MYCOM Group Inc. MYCOM Group provides a complementary mix of technology, training and communications services for large businesses and organizations with an emphasis on solutions that are Understood, Valued and Acted Upon(TM). MYCOM was formed in 1991 to provide technical marketing and documentation services. It has added capabilities in applications development, web-enabled applications, database applications, online and classroom instructional design and training, and other services that enhance the benefits of technology investments across the enterprise. MYCOM Group is on the web at www.mycom.com NOTE: Certain statements in this press release, including but not limited to MYCOM Group's ability and efforts to increase profitability, grow revenues, and obtain additional investment capital, may constitute "forward-looking statements" which are subject to known and unknown risks and uncertainties. Those risks and uncertainties include, among others, economic conditions, success in implementing cost-control programs, continued high rates of technology investment spending by MYCOM Group's clients, the availability of additional investment capital on suitable terms, MYCOM Group's ability to achieve certain financial performance goals, and other factors that may cause the actual results to differ materially from results implied by such forward-looking statements. CONTACT: MYCOM Group, Inc. Wayne Buckhout, 513/352-5560 ext. 190 wbuckhout@mycom.com | ||||||||||||||
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